BT Brands (BTBD) is executing a definitive merger agreement with Aero Velocity, a drone solutions and AI technology company, which will result in BT Brands shareholders owning approximately 11% of the combined entity. The transaction is expected to close in Q4 2025 or Q1 2026, subject to shareholder and regulatory approvals. BT Brands recently reported record third-quarter profit of $0.15 per share and increased cash to $4.7 million, but has delayed its 10-Q filing due to challenges with third-party financial information. The stock has been volatile, closing at $1.25 on November 20, 2025, down 11.97% from the previous session, amid these developments and broader market fluctuations.